Asian stocks slides deep while crude oil sharply rose to the highest in 2008 as Russian President Vladimir Putin vows to continue the war and as U.S. and allies considers banning to use Russian oil.
The CSI300, HSI, KOSPI and TOPIX is down by 1.79%, 3.44%, 2.33% and 2.88% respectively.
U.S. futures contracts are down with Dow Jones down by 1.30% and S&P by 1.60%.
In a phone call with Turkish President Tayyip Erdogan, Putin said he was ready for dialogue to end the fighting but that any attempt to draw out talks would fail, according to the Kremlin.
The suspension of what Moscow describes as a special operation, “is only possible if Kyiv stops military operations and carries out well-known Russian demands,” the Kremlin said in a readout of the Putin-Erdogan call.
Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil.
Crude oil maintain historic highs with WTI at $123.96 per barrel while Brent is trading at $127.86 per barrel.
